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A Basic Income for Children is Better than Tax Cuts

BASIC INCOME NEW ZEALAND INCORPORATED

www.basicincomenz.net
19/08/16
Embargoed until 12 noon 21st Sept.

A Basic Income for Children is Better than Tax Cuts

Lowell Manning, President of Basic Income New Zealand (BINZ) is calling for a Universal Basic Income for Children. “I like to call it a Kids’ Basic Income” he says. Mr Manning said that a Universal Basic Income for Children would work much better than tax cuts, substantially reducing child poverty in New Zealand and boosting the economy where it is needed.

Referring to reports (Radio New Zealand 27th May on Nine to Noon), that Prime Minister John Key and Finance Minister Bill English would like to cut taxes by about $2-3 billion*, Manning says, “if we are serious about eliminating child poverty here in New Zealand, the Government is well placed to lead the world in 2017 by implementing a Universal Basic Income for Children”.

“The Kids’ BI would be similar to the old Universal Family Benefit that ended in 1991 after 45 years of continuous use”, he said, “so the idea is neither new nor radical. What was radical was abolishing the Universal Family Benefit in the first place”.

“A Kids’ basic income of $40 paid weekly in addition to all existing income support to every child under the age of 18 irrespective of family income or assets would return about $2.6 billion annually to the productive economy excluding establishment and administration costs”, he continued. “That’s about the same as the tax cuts the Government is considering. It creates a clear choice between substantially reducing the rapidly worsening child poverty that is causing widespread concern throughout the country and tax cuts that poorly target child poverty.”

“Moreover, the $2.6 billion a year spent on the Kids’ Basic Income would generate more government revenue because the Kids’ Basic Income will increase national output, GDP, by about 1%, and the tax on that extra output will increase Government revenue more than tax cuts will”, said Mr Manning.

“The Kids’ Basic Income is about the wellbeing of children, not family size or structure, ethnicity or social status” he concluded.

END

*A report on TVNZ Friday 16th September about Finance Minister Bill English saying that because of immigration, the Government surplus would be spent on schools and infrastructure instead of tax cuts still does little or nothing for child poverty in New Zealand.


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